Mongolia’s Foreign Trade in 2025 Recorded a Surplus of USD 4.4 Billion
In 2025, Mongolia conducted foreign trade with 163 countries, with total trade reaching USD 27.0 billion, of which exports amounted to USD 15.7 billion and imports USD 11.3 billion, resulting in a trade surplus of USD 4.4 billion.
Compared to the previous year, the total trade volume decreased by USD 325.2 million (1.2%), with exports declining by USD 22.6 million (0.1%) and imports falling by USD 302.6 million (2.6%). At the same time, the relatively larger reduction in imports contributed to an increase in the trade surplus by USD 280.0 million (6.7%).
In 2025, 89.4% of total exports were destined for the People’s Republic of China. By commodity structure, coal accounted for 40.9% of exports, and copper ore and concentrates made up 41.4%. Meanwhile, Switzerland accounted for 6.9% of total exports, nearly all of which (99.5%) was unprocessed or semi-processed gold.
Export revenue decreased by USD 22.6 million compared to the previous year, mainly due to declines in:
Coal exports by USD 2.9 billion
Washed cashmere by USD 256.7 million
Crude oil by USD 70.3 million
Knitted underwear by USD 5.5 million
Regarding imports, by country of origin in 2025:
China: 40.9%
Russia: 24.5%
Japan: 9.6%
South Korea: 4.1%
United States: 3.7%
Germany: 2.3%
These six countries together accounted for 85.1% of total imports.
The overall import decline of USD 302.6 million was mainly driven by decreases in:
Freight vehicles: USD 217.1 million
Mining machinery such as bulldozers and excavators: USD 67.7 million
Public transport vehicles: USD 52.5 million
Spare parts and components for vehicles: USD 48.9 million
Passenger cars: USD 43.7 million
